Windhoek: Namibia's removal from the Financial Action Task Force (FATF) grey list on 19 June 2026 reflects political commitment, national coordination, institutional discipline and sustained implementation to protect the country's financial system, Minister of Finance Ericah Shafudah has said. Shafudah was speaking at a media conference in Windhoek on Tuesday, where she announced Namibia's exit from the FATF list of jurisdictions under increased monitoring, describing it as a national milestone.

According to Namibia Press Agency, 'Today marks an important national milestone as Namibia exited the Financial Action Task Force list of jurisdictions under enhanced monitoring,' the minister stated. She said Namibia's commitment to combating money laundering, terrorism financing and proliferation financing was anchored in both national interest and international obligations, and that the government had responded to deficiencies identified during its mutual evaluation through a National Action Plan endorsed and prioritised by Cabinet.

Shafudah emphasized that illicit financial flows deprived countries of resources that could otherwise support development, public services, infrastructure, and job creation. Under Pillar 1 of the sixth National Development Plan (NDP6), Namibia has set a target to reduce illicit financial flows from 9 percent of gross domestic product in 2024 to 5 percent by 2030.

She noted that the objective had never been solely to exit the grey list, but to build a financial system that was stable, resilient, and trusted for purposes of national security, economic stability, and investor confidence. 'Exiting the FATF grey list is not the end of the journey, but rather a major milestone in Namibia's journey to sustain a stable, resilient and trusted financial system,' Shafudah said.

Shafudah extended congratulations to the National Focal Committee, chaired by Financial Intelligence Centre Director Bryan Eiseb, and thanked regional and international partners including ESAAMLG, the FATF Secretariat, the European Union, UNODC, and the World Bank for their technical support. She stated that Namibia must continue implementing reforms with discipline, maintain cooperation mechanisms, and avoid complacency, noting that the next mutual evaluation is scheduled for 2030.